Talking consumer rights with Consumer Financial Protection Bureau’s Rohit Chopra

Rohit Chopra, director of the Consumer Financial Protection Bureau, joined AFT President Randi Weingarten for an insightful and lively one-on-one discussion covering a broad range of topics, including debt, private equity accountability, junk fees, privacy and data protection, and Big Tech.

Weingarten highlighted the transformative impact the CFPB has had on the lives of working Americans, whether dealing with credit card debt, student loans or medical debt. She praised Chopra's advocacy for consumer protection, particularly in holding student loan servicers like Navient accountable and collaborating with the AFT to improve the Public Service Loan Forgiveness program.

Weingarten noted that the AFT's recent release of a report exposing private equity firms' dubious labor practices aligned with the convention resolutions addressing labor and economic issues.

Listening to the AFT's resolutions, Chopra said, reinforced his opinion that the AFT has worked hard over the years to improve the lives of Americans. He said the theme of what happens when corporations and Wall Street-instead of people-dictate the rules was clear in the resolutions. "We have to make sure that the rules are not dictated by a few of them, and really, if we believe in 'we the people,' we set the rules and we make sure people abide by them."

Chopra emphasized the importance of government agencies working for the people rather than for profit-seeking entities. He praised the AFT's efforts, whether it's organizing healthcare workers against private equity takeovers or tackling student debt, and urged everyone to keep pushing forward.

Weingarten steered the conversation toward issues critical to the audience, starting with credit card debt. She asked Chopra what steps the CFPB is taking to help consumers reduce their credit card debt. Chopra noted that people with debt are often unfairly stigmatized and said the CFPB has uncovered a multibillion-dollar junk fee scam by major credit card issuers that exploited consumers with hidden charges. He said that although the CFPB has eradicated millions in fees, it needs people to file complaints to hold these companies accountable.

On the issue of medical debt, a significant burden for many, Weingarten mentioned recent changes announced by Chopra and Vice President Kamala Harris regarding how medical debt is reported to credit agencies. Chopra explained that patients are often caught between insurance companies and providers, and this kind of debt frequently ends up on credit reports, threatening credit scores.

He also shed light on the shadowy influence of private equity in healthcare, noting that these companies prioritize profit over patients, often paying less in taxes than individuals. He said they buy up hospitals and facilities, making it harder to know who's really in control. "Ultimately, you all need to know who is pulling the strings when it comes to ownership and control of all of these companies. It will make you stronger when it comes to the bargaining table," he said.

Shifting the focus to data privacy, a growing concern in the digital age, Weingarten cited recent data breaches, like the one involving AT&T, and asked Chopra about the CFPB's efforts to hold Big Tech accountable. Chopra said that Americans have become desensitized to privacy breaches, clicking past fine print they don't understand. He explained that privacy is about power, and companies with detailed information about consumers hold significant control, which is why there is a need for regulations that give people more rights and limit data collection.

Weingarten touched on the future of artificial intelligence and its regulation, and she mentioned the routine push to dismantle the CFPB. Chopra predicted new CFPB rules to control data brokers and enhance consumer rights. He also addressed the Supreme Court's decision to strike down the Chevrondoctrine-a doctrine requiring courts, in reviewing a federal agency's action, to defer to that agency's reasonable interpretation of an ambiguous statute. He recognized the increased challenges ahead but expressed confidence in collective effort: "We will have more of a boulder to push up the hill, but I think with everyone here, we'll push up that boulder together."

Chopra concluded by urging members to help their colleagues navigate the CFPB complaint process, reinforcing the agency's role in protecting consumers.

[Adrienne Coles, photos by Suzannah Hoover]

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